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Wireless Communication Market to be Driven by Developments in Wireless Technology By 2023

January 22, 2020 by Market-NewsFlash  

Wireless Communication Market

The global wireless data communication market has expanded at an impressive rate over the years. The market will capture a healthy CAGR and the size of the market will grow manifolds over the forecast period of 2016–2027, reveals a research report by Market Research Future (MRFR). The growth of the market can primarily be attributed to the growth in end-user community. A steep rise has been observed in the usage of computers for business as well as personal use which is driving the market for wireless communications. 

Another major factor which has been responsible for shaping up the growth of the market is increased use of social media which has led to higher adoption of wireless communication options and offers potential growth opportunities. Widespread use of smartphones also influences market growth. Unprecedented adoption of wireless technology in emerging countries over the past decade has been a major driver of the market. Advances in the wireless technology such as WAP (wireless application protocol), 5G, RFID, Wi-Fi-Direct, Li-Fi, LTE, and 6LoWPAN and high internet penetration rate of Internet-enabled personal computers in homes are other driving factors. 

Development of WiMax, which is an emerging broadband wireless technology offers lucrative opportunities for market expansion. The technology enables broadband connectivity in a wider geographical area as compared to Wi-Fi and also provides greater mobility, range, and higher speed data applications. The restraining forces to the market include high cost of equipment or set up. The infrastructure required to deliver wireless services requires massive and continual investment which might restrict the growth of the market.

Segmentation

The global wireless data communications market has been segmented based on communication type, component, services, and standards. By communication type, the market has been segmented into satellite, Wi-Fi, Bluetooth technology, infrared communication, microwave communication, and mobile communication among others. By component, the market has been segmented into routers, adapters, repeaters, wireless device among others. By services, the market has been segmented into asset tracking, remote monitoring and control, insurance, messaging and voice communication among others. By standards, the market has been segmented into personal area network (PAN), local area network (LAN), metropolitan area network (MAN), and wide area network (WAN) among others.

Regional Analysis

The key markets of the global wireless data communication market include the Americas, Europe, Asia-Pacific and the Middle East & Africa. North America accounts for the market owing to developed networking infrastructure. The Europe market for wireless data communication is strong. Asia-Pacific market is projected to exhibit high growth due to high internet penetration in emerging economies of the region.

Access Report @ https://www.marketresearchfuture.com/reports/wireless-data-communication-market-1118

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